Temperature Sensor Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026

Report ID: GMI3469

Summary Methodology

Temperature Sensor Market size is anticipated to grow substantially over the forecast timeframe owing to wide uses of these sensors in several sectors such as electronics, automotive, and healthcare. With the rise in industrial automation, increased usage of sensor technology has proliferated the temperature sensor market. These components are extensively used in electronics devices and appliances such as refrigerators, air conditioners, microwave ovens, hot water tanks, and battery chargers. These components enable to read & control the temperature in various appliances. Advancements in IoT technology have enabled multi-sensor integration, which supports multiple types of measurements in single-sensor packages, augmenting the growth of the market.

Another driver accelerating the temperature sensor market is its substantial use in the oil, gas, and marine applications. These sensors are used for various purposes such as extradition, production, refining, and distribution of oil, gas, and other petrochemicals. Heat tracing sensors are used to measure the temperature of the pipes, which are enclosed in the systems. Technological advancements with the trend of miniaturization in the electronics sector will fuel the market growth.

One of the challenges impacting the temperature sensor market growth is the initial cost involved with some sensors such as resistance temperature detectors. Low sensitivity to external environments is one of the drawbacks hindering the adoption of these components. In addition, it also has a limited temperature range, which can lead to device failure consequently, increasing the additional cost, whereas thermistors do not work efficiently in high temperatures and are fragile in nature as they are semiconductor devices.

The temperature sensor market is driven by different types of sensors such as contact & non-contact sensor types. Contact sensors are based on conduction and require the object to be in physical contact with the system or object to read the temperature while non-contact temperature sensors are based on radiation and convection to monitor the temperature. They can be used to detect liquids and gases that emit radiant energy. These sensors can be further sub-divided into three groups of sensors, thermistors, resistive temperature detectors, and thermocouple. The most widely used sensor is thermocouple due to its simplified design, ease of use, and quick response to varying temperatures. These are majorly used is diesel engines and industrial processes. The RTD sensor is mostly used in industries such as consumer electronics, oil & gas, food processing, and many more. These are now slowly replacing thermocouple in many industrial applications owing to their higher accuracy.

Another major industry driving the temperature sensor market is healthcare. Due to the growing urbanization, increasing population, and health issues, there is a need for safety and security. To cater to the growing medical conditions, the development of more innovative equipment combined with sensor technology is increasing. These components find their applications in several devices including medical incubators, ventilators, and blood analyzers, among others. These are mostly integrated with sensor technology to detect and control the temperature to give reliable, accurate diagnostic results in real-time. Owing to , wide applications in the medical sector, the growth of the temperature sensor market will be proliferated.

The consumer electronics segment is propelling the temperature sensor market demand. With the emergence of digitalization, innovative technologies are being integrated with systems and devices. This has led to the increased use of sensor technology and various electronic appliances such as battery chargers. For instance, these sensors are used in car battery chargers to determine when to stop charging, avoiding overcharging of the battery and preventing undercharging of the device. It is also used to turn off the battery charger by sensing the rise in temperature. Owing to these aspects and increasing use in applications, the demand for the temperature sensors is expected to grow over the forecast period.

The temperature sensor market in the Asia Pacific region is proliferated by the increasing demand in consumer equipment. The emergence of automation in several industry verticals has led to the rising adoption of sensor technology. The demand for consumer electronic devices, such as smartphones, laptops, wearables, etc., has tremendously increased, creating a large market share for the market. Europe temperature sensor market is expected to flourish owing to the integration of advanced technologies on a large scale by the automotive sector in Germany. Several companies are adopting and integrating innovative technologies for efficient processing, augmenting the market.

Prominent players in the industry are Siemens, Honeywell International Inc. DENSO Corporation, Infineon Technologies AG, Omron, Robert Bosch GmbH, ABB Group, and IST AG. The temperature sensor market is characterized by the extensive R&D department. The key players in the industry are constantly launching and innovating solutions to differentiate their products in the market. For instance, IST AG launched a new product series in response to the high demand for high precision platinum temperature sensors, whereas Omron expanded its product line by introducing a series of high sensitivity thermal sensors. The increasing competition among key players to launch advanced solutions will drive the market growth.

What Information does this report contain?

Historical data coverage: 2015 to 2019; Growth Projections: 2020 to 2026.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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